Business Events Layoffs

  • NEW YORK, April 15- Sprint Corp said on Friday it has extended LTE Plus, a network improvement that offers customers its fastest network and higher data speeds to New York City and 190 other markets. Overland Park, Kansas- based Sprint has been giving customers half-off discounts to switch to its service and cutting costs to the tune of $2.5 billion by slashing jobs...

  • April 15- Intel Corp is planning to cut thousands of jobs this spring, including reducing headcount in some business units by double-digit percentages, news website Oregonlive said, citing sources inside the company familiar with the plan. The job cuts at the world's largest chipmaker this year will be considerably larger than the more than 1,100 U.S. jobs...

  • COLORADO SPRINGS, Colo., April 14- United Launch Alliance plans to cut up to 875 jobs, or about one-quarter of its workforce, before the end of 2017 to better compete against rivals bankrolled by billionaire entrepreneurs including Elon Musk and Jeff Bezos, ULA's chief executive said on Thursday. In an interview with Reuters, ULA CEO Tory Bruno said another 400 to...

  • COLORADO SPRINGS, Colo., April 14- United Launch Alliance plans to cut up to 875 jobs before the end of 2017 to better compete against rivals bankrolled by billionaire entrepreneurs including Elon Musk and Jeff Bezos, ULA's chief executive officer said on Thursday. ULA, a partnership of Lockheed Martin Corp and Boeing Co, expects a first round of 375 job cuts to be...

  • April 14- BlackRock Inc said on Thursday it will cut 400 jobs and take a $76 million restructuring charge after posting a 20 percent drop in first-quarter profit amid a dramatic reversal in financial markets. Net income fell to $657 million, or $3.92 per share, in the quarter, from $822 million, or $4.84 per share, a year earlier. Overall revenue of $2.6 billion was...

  • April 13- Australia's Macquarie Group Ltd shed close to 15 percent of its U.S. investment banking workforce this month to replenish its ranks with star performers in North America, according to people familiar with the matter. The action comes as other international banks reconsider their U.S. investment banking strategy. Earlier this week, Japan's Nomura...

  • JPMorgan Chase has cut 30 jobs, or 5 percent of its headcount, at its Asia wealth management business, a source with knowledge of the matter said.

  • NEW YORK, April 12- The prospect of a near-term bankruptcy for solar giant SunEdison Inc also threatens the separate companies it created to hold renewable energy assets- the so-called "yieldcos." The companies- TerraForm Power Inc and TerraForm Global Inc- will likely avoid bankruptcy but may not escape unscathed, analysts and restructuring experts said.

  • April 12- Teen apparel retailer American Apparel Llc is laying off hundreds of workers as it overhauls its production process, which could include outsourcing part of its production to another U.S. manufacturer, the Los Angeles Times reported on Tuesday. "If we do decide to produce some pieces out-of-house, they will still be American-made," Chief Executive...

  • April 12- Nomura Holdings Inc is laying off more than two-thirds of its U.S. employees who focus on leveraged buyouts, people familiar with the matter said on Tuesday, as the Japanese bank announced broad strategic changes in Europe and the United States to boost profits. The staff cuts began on Tuesday as Nomura announced the strategic changes after losing...

  • Nomura trimming operations in Europe

    Japan's biggest brokerage will slash up to 600 jobs in Europe amd the Americas to focus on its core business.

  • BRIEF-PRADA TO EVALUATE SELECTIVE SHOP CLOSURES, DOWNSIZING@. April 11- Prada Strategic Marketing Director Stefano Cantino tells analyst call:. *Will evaluate selective shop closures or downsizing over the next two years.

  • April 7- Mashable Chief Executive Officer Pete Cashmore announced on Thursday that the online news website was reorganizing to focus on digital storytelling and television, a move that would result in the departure of "some" employees. The move comes roughly a week after Mashable raised $15 million in funding from Turner, a division of Time Warner Inc.

  • Victoria's Secret owner to reorganize

    L Brands plans to restructure its lingerie brand into three units.

  • The changes are aimed at narrowing the company's focus and simplifying the operating model, Chief Executive Leslie Wexner said on Thursday. Besides Victoria's Secret, L Brands owns Bath& Body Works and Other Brands, which includes La Senza and Henri Bendel. L Brands Inc said it would also eliminate about 200 corporate jobs at its Columbus and New York offices.

  • DETROIT, April 6- Fiat Chrysler Automobiles said on Wednesday it is laying off about 1,300 workers indefinitely and ending one of the two shifts at its Sterling Heights, Michigan plant that makes the slow-selling midsize Chrysler 200 sedan. In January, Fiat Chrysler Automobiles Chief Executive Sergio Marchionne said the company would cease making the...

  • FIAT CHRYSLER SAYS WILL LAY OFF 1,300 WORKERS INDEFINITELY AS IT CUTS BACK PRODUCTION OF MIDSIZE CHRYSLER 200.

  • DETROIT, April 6- Fiat Chrysler Automobiles said on Wednesday it is laying off about 1,300 workers indefinitely and ending one of the two shifts at its Sterling Heights, Michigan plant that makes the slow-selling midsize Chrysler 200 sedan. U.S. sales of the Chrysler 200 were down 63 percent in the first three months of this year from a year earlier, as FCA has...

  • BEIJING, April 3- Creditors in China's Bohai Steel Group have agreed to extend the maturity of their loans and lower the interest rates under a second restructuring plan for the troubled steelmaker, according to financial magazine Caixin on Sunday. China's steelmakers are in the eye of a storm as Beijing moves to slim down bloated industries, including steel...

  • LOS ANGELES, April 3- Nine months into a minimum wage hike at some Los Angeles hotels, city leaders and other backers of the move are claiming victory, saying doomsday forecasts from hoteliers have proven unfounded. "There have not been the wholesale layoffs or cutbacks that we were told would occur," said Los Angeles City Councilman Curren Price, who co-authored...